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ArcelorMittal repays Essar Steel lenders, Rs 40,000 crore transferred to SBI

Updated : December 15, 2019 11:02 AM IST

Essar Steel owes around Rs 49,046 crore to the financial creditors.
Essar Steel was among the first list of the largest 12 stressed accounts that the Reserve Bank of India had drawn up in June 2017.
Banks are set to recover over 90 percent of their claims against Essar Steel, amounting to over 40,000 crore — the single biggest recovery under IBC for banks so far.

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